Legal

Apparel retailer Nine West Holdings and its creditors are close to finishing a deal to restructure more than $1 billion of debt, which includes filing for bankruptcy and divesting parts of the business, Bloomberg reported Wednesday, based on conversations with people familiar with those talks. This strategy would include asset sales to pay off creditors, where Nine…

Apple yesterday announced a sweeping set of moves partially tied to the recent tax bill, including paying $38 billion in taxes from profits made overseas as required by recent changes to the tax law.; creating more than 20,000 new jobs at existing Apple campuses and a new corporate campus it plans to build; and pledging…

The U.S. Supreme Court will consider freeing state and local governments to collect billions of dollars in sales taxes from online retailers, agreeing to revisit a 26-year-old ruling that has made much of the internet a tax-free zone. Heeding calls from traditional retailers and dozens of states, the justices said they will hear South Dakota’s contention…

What a year it has been for retail! As we count down the days to 2018, the Total Retail team has reflected on the biggest stories that shook up the industry. Below are just three of the top stories we've reported on. 1. Amazon.com's Acquisition of Whole Foods We can't talk about e-commerce or retail…

The National Retail Federation (NRF) yesterday praised passage of the Tax Cuts and Jobs Act, the most sweeping change in U.S. tax laws since 1986, as a job-creating measure. The bill includes deep tax cuts for businesses and tax reductions for middle-class consumers, which proponents — including the NRF — say will spur economic growth at a time when…

Luxury apparel and accessories retail chain Calypso St. Barth is shuttering all of it U.S. stores and liquidating its remaining inventory. Asset firms Tiger Group and Great American Group are supervising the going-out-of-business sales at the retailer’s 16 stores in New York, Georgia, Massachusetts, Colorado, California, Florida, Arizona, Maryland and South Carolina. The inventory is…

Houston-based Charming Charlie filed for Chapter 11 bankruptcy protection on Friday with a plan to revamp operations, reduce debt, and shrink its chain of jewelry and accessories stores in a hotly competitive retail environment. The company said in a news release that it had entered a restructuring support agreement with most of its lenders and shareholders.…

The judge overseeing the Toys"R"Us bankruptcy case ruled Tuesday that the insolvent retailer can pay its 17 top executives $14 million in incentive bonuses. Toys"R"Us, which is based in Wayne, N.J., agreed to trim its original $16 million bonus proposal by $2 million, and to make $5 million of the bonus payout contingent on the company creating…

In the face of record-setting store closures, Simon Property Group is fighting back. An Indiana judge ruled in favor of the Indianapolis-based mall operator Monday, forcing Starbucks to keep 77 failing Teavana stores open and honoring their leases. The Seattle-based coffee chain announced it planned to close all 379 Teavana locations in July. In August, Simon malls…

The tax bill passed in the U.S. Senate over the weekend will boost consumer confidence, and savings from the reform could be enough to pay for many families’ holiday shopping, according to the National Retail Federation (NRF). “This vote couldn’t come at a better time,” said Matthew Shay, president and CEO, NRF, in a statement.…